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April 26, 2023NZD/USD drops from 0.6141 to 0.6131, losing 10 pips (0.17%) today.
Core Durable Goods Orders data from United States will be released today at 12:30 UTC with analysts expecting a decline to -0.2%. Potentially significant price fluctuations in the Kiwi are expected to follow.
While price action maintains a negative bias, New Zealand Balance of Trade released yesterday at 22:45 UTC with a figure of -1,273,000,%, while the previous figure was -796,000,%. New Zealand Balance of Trade came out at -16,400,000,%, while a consensus of analysts was expecting -16,450,000,%. United States New Home Sales (Mar) came out at 683,000.
Positive performances can be seen by looking at other currencies as having closed the previous session at 1.6554, EUR/AUD is up 1.03% today to currently trade at around 1.6725. Having closed the previous session at 2.0213, GBP/NZD is up 0.69% today to currently trade at around 2.0354. Having closed the previous session at 1.7868, EUR/NZD is up 0.8% today to currently trade at around 1.8011.
Looking ahead, ongoing depreciation may be prolonged as United States Crude Oil Inventories is projected to outperform its last figure with -1.49 million. It previously stood at -4.58 million; data will be released today at 14:30 UTC.
In addition, today at 12:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to -0.2% from the preceding figure of -0.1%.
Furthermore, New Zealand ANZ Business Confidence (Apr) scheduled to come out tomorrow at 01:00 UTC.
The Kiwi is now trading 5.15% below its 3-month high of 0.6616.
